HDFC Property Fund, set up by Housing Development Finance Corporation (HDFC), India’s biggest mortgage lender, is reportedly planning to mop-up $500-million fund to invest in residential real estate projects.
The company is planning to raise part of the private equity fund from investors, including Government of Singapore Investment Corp (GIC), investment firm Temasek Holdings and Oman’s State General Reserve Fund.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
